The survey was conducted among more than 5,000 respondents in major cities in the country.
RBI Released Consumer Confidence Index
09 April 2021 Current Affairs:The Reserve Bank of India (RBI) released the “Consumer Confidence Survey” report. The survey was conducted among more than 5,000 respondents in major cities in the country.
♦ The consumer confidence index dropped from 55.5 points in January 2021 to 53.1 points in March 2021.
♦ The future expectation will fall from 117.1 in January 2021 to 108.8 in March 2021.
♦ When the index measurement is higher than 100, it means optimism, and when it is lower than 100, it means pessimistic.
♦ Most consumers report higher overall spending. According to the survey, although discretionary spending has decreased, this situation will continue in the coming year.
♦ Consumers are also very pessimistic about the overall economic situation and employment situation in the coming year.
♦ The survey measures consumer perceptions from five aspects, such as employment, economic conditions, price levels, expenditures and income. The consumer confidence survey has two main indexes, namely the current conditions index and the future expectations index. The Future Expectation Index measures consumers’ views on changes in economic issues in the coming year. The current conditions index measures changes in consumer perceptions of economic issues last year.
♦ The Reserve Bank of India conducts a consumer confidence survey every two months. The survey was conducted to measure how pessimistic or optimistic consumers are about their financial situation.
♦ The survey was conducted through telephone interviews. It takes place in major cities such as Bangalore, Chennai, Delhi, Hyderabad, Ahmedabad, Jaipur, Lucknow, Patna, Trivandrum, and Mumbai.